Monday, May 3, 2010
Fire On The Water
I have often wondered what would happen if there was a mechanical problem a mile below the ocean. Now we know one possible scenario, which was not difficult to imagine. Perhaps the capability to work in an environment should precede the exploitation of that environment. This report calls into question the disaster protections for deep water oil production, it's a 2004 document so someone spent 6 years jerking off. We have recently been rocked by the inefficiency (read crooked scumbags) in our global financial markets, now the fuel that drives globalization turns to bite US in the ass. Why am I always hearing the name Haliburton associated with scandal and disaster? The market is not happy.
A free for all market mentality has allowed Transocean to become the largest off shore drilling company in the world, with the safety consciousness of Massey Energy. Isn't Don Blankenship a happy man. Even scumbags get lucky.